Wells Fargo 2015 Annual Report Download - page 249

Table 20.2 provides information for pension plans with
benefit obligations in excess of plan assets.
Table 20.2: Pension Plans with Benefit Obligations in Excess
of Plan Assets
Dec 31, Dec 31,
(in millions) 2015 2014
Projected benefit obligation $ 11,317 11,855
Accumulated benefit obligation 11,314 11,851
Fair value of plan assets 8,832 9,626
Table 20.3 presents the components of net periodic benefit
cost and other comprehensive income.
Table 20.3: Net Periodic Benefit Cost and Other Comprehensive Income
December 31, 2015 December 31, 2014 December 31, 2013
Pension benefits Pension benefits Pension benefits
Non- Other Non- Other Non- Other
(in millions) Qualified qualified benefits Qualified qualified benefits Qualified qualified benefits
Service cost $ 2 — 6 1 — 7 — — 11
Interest cost 429 25 42 465 27 42 465 29 47
Expected return on plan assets (644) — (35) (629) — (36) (674) — (36)
Amortization of net actuarial loss (gain) 108 18 (4) 91 11 (28) 137 15 (1)
Amortization of prior service credit — — (3) — — (2) — — (2)
Settlement loss (1) — 13 — — 2 — 124 3 —
Curtailment gain — — (43) — — — — — —
Net periodic benefit cost (105) 56 (37) (72) 40 (17) 52 47 19
Other changes in plan assets and
benefit obligations recognized in
other comprehensive income:
Net actuarial loss (gain) 560 (25) (23) 881 89 146 (1,175) (17) (341)
Amortization of net actuarial gain (loss) (108) (18) 4 (91) (11) 28 (137) (15) 1
Prior service credit — — 18 — — — — — —
Amortization of prior service credit — — 3 — — 2 — — 2
Settlement (1) — (13) — — (2) — (124) (3) —
Total recognized in other
comprehensive income 452 (56) 2 790 76 176 (1,436) (35) (338)
Total recognized in net periodic benefit
cost and other comprehensive
income $ 347 — (35) 718 116 159 (1,384) 12 (319)
(1) Qualified settlements in 2013 include $123 million for the Cash Balance Plan.
Table 20.4 provides the amounts recognized in cumulative
OCI (pre tax).
Table 20.4: Benefits Recognized in Cumulative OCI
December 31, 2015 December 31, 2014
Pension benefits Pension benefits
Non- Other Non- Other
(in millions) Qualified qualified benefits Qualified qualified benefits
Net actuarial loss (gain) $ 3,128 168 (165) 2,677 224 (147)
Net prior service credit (1) — — (2) — (20)
Total $ 3,127 168 (165) 2,675 224 (167)
The net actuarial loss for the defined benefit pension plans
and other post retirement plans that will be amortized from
cumulative OCI into net periodic benefit cost in 2016 is
$141 million. The net prior service credit for other post
retirement plans was fully recognized in 2015 in conjunction
with a curtailment.
Wells Fargo & Company
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